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McHenry Times

Monday, November 25, 2024

Former state school employee Currier paid in $6K to teachers' pension fund, could collect $90K in retirement

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Former state school employee Clarice Currier, who retired in October 2017, saved $6,261 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Currier would collect as much as $89,991, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Currier received $1,891 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Currier will have already received $7,911 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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